This article describes the conversion of mechanical strain into electrical signals by means of elastic ferromagnetic composites with a silicone matrix. The production process for rods made of two types of these composites is presented here. For the first composite 0.15-0.20 mm ferromagnetic particles made of silicon steel were used, while for the second one alnico alloy particles of the same size were applied. The second composite was constantly magnetized during the process of production. The filling factor of the composites by the ferromagnetic particles amounted to 0.3, 0.5 or 0.7. The fabricated rods were suspended vertically inside the signal windings and was subjected to a tension causing the unit elongation to reach 14%. Rod made of the first composite was magnetized by a direct current flowing through an additional winding. The voltage was induced in the signal windings during the tension and the flow of the electric charge during this process was measured. A theoretical model of the investigated phenomenon is introduced and the obtained results are discussed.